Welcome to Mashreq
Mashreqbank psc (“Mashreq”) is one of the leading commercial and retail banks in the United Arab Emirates (UAE). Established in 1967 by the Al-Ghurair Group, it is the largest privately owned Bank in the UAE.
The Bank, through its head office in Dubai, operates a network of 45 branches in the UAE and 20 international branches including in the United Kingdom (UK) in London. The others are in Qatar, Bahrain, Kuwait and Egypt in the Middle East and the US, India and Hong Kong. Mashreq also has three representative offices in Bangladesh, Pakistan and Nepal.
The Bank’s strategic vision is to put clients at the centre of all our efforts and provide them with the most rewarding banking relationships - to be the “best bank” for our customers. Our values include commitment to being strongly customer focused, transparent and fair, progressive, bold and individually responsible. The Bank is well-recognised in the Middle East region for its innovation and use of technology in delivering client driven solutions.
Mashreq in the UK
Mashreq’s London branch was originally established in the UK in 1978 as the Bank of Oman, London branch, until 1993 when the Bank changed its name to Mashreq.
The London branch’s core focus is on providing trade finance services to its clients including corporates in the UK and also Europe. These services include Letters of Credit (LC) issuing, advising and confirmation, LC refinancing & risk participations, export & import collections, guarantees and bonds, bankers acceptances and discounting and financing solutions. It also provides banking services to Financial Institutions (FIs) including GBP and EUR accounts and treasury services.
The London branch works closely with teams in Mashreq Dubai and its international network, to bring to our local clients a top class banking service from London and also delivers access to the Bank’s Middle East range of products and services.
In November 2014, the Bank established a Certificate of Deposit (CD) programme with CD issuance undertaken through its London branch, providing a new source of attractive short-term assets to investors. The programme itself is rated at A-2 / P-2 (Standard & Poor’s / Moody’s).
Mashreq in the UAE
The UAE is recognised as being an excellent place to do business in the Middle East with its stable economic and political environment, strong trading history and unrivalled transport and communication infrastructure.
The UAE is successfully growing and demonstrates a continuing maturity that brings increased investment momentum into the country and the Middle East region as a whole. In 2013, the UAE won the right to host the World Expo in Dubai in 2020 and this will be the first time that this major event will be staged in the Middle East, North Africa and South Asia region. In 2014, the UAE was upgraded from Frontier to Emerging Market status on the MSCI index bringing increased equity investment flows.
Mashreq’s core banking businesses in the UAE include retail, corporate & investment banking, international banking and treasury & capital markets. The Bank offers a diverse range of products and services for its corporate and FI clients which includes deposit-taking, lending, trade finance, contract & project finance, cash management and capital markets & treasury services.
Whilst Mashreq is a conventional lending bank, it also has a well-established Islamic Banking franchise, Mashreq Al Islami, offering Sharia compliant banking services. This allows the Bank to provide a larger variety of alternative financing, hedging and investment solutions for our clients, relevant in the Middle East but also globally.
Mashreq also has a full range of personal banking services including retail, private banking & wealth management offerings. The Bank is also well-recognised for its innovation (on-line & mobile banking) and strong customer focus. Directly from Dubai, the Bank can also provide specialist mortgage services to non-UAE residents who may want to buy real estate in the UAE. In asset management, the Bank also has one of the longest and most successful investment track records in Middle East equities and fixed income discretionary mandates and funds.
All these UAE products and services can be potentially accessed by UK companies that are looking to start or build up their businesses in the UAE and/or the Middle East region as a whole.
Mashreq: We Make Possible
At Mashreq, our culture is very strongly relationship driven. We believe our success depends on establishing lasting and mutually beneficial partnerships that allows our clients to be successful and reach their ambitions and goals.
Mashreq London would like to ensure “We Make Possible” for your business to develop and grow successfully in the UAE going forward. Please get in touch.